Deficit-cutting 'super committee' and Obama jobs plan don't have to work at cross purposes.
Some sources now say that scathing remarks about Obama and his administration are "fiction [and] distortion."
The stock market is tanking. At midday Aug. 4, the Dow had fallen 300 points. The bond market is also beginning to growl like a bear. Investors are buying long-dated bonds while eschewing shorter-term securities to protect their assets, a clear indication that they feel the economy is likely to weaken further. High-profile economists are also turning gloomy. Former Treasury Secretary Lawrence Summers put the chances of another recession at 1-in-3; Harvard economist Martin Feldstein put it at 1-in-2. What's behind all the pessimism? Here are four big factors that are weighing on stocks and could determine the course of the global economy in the coming months:
The country has been living beyond its means for years, leaving future generations to pay
The possible GOP presidential candidate chided Obama's 'European-style' rule. But in Friday's speech at CPAC, Mitt Romney avoided a topic on which he may be vulnerable: health care.
Obama has named economist Gene Sperling as head of the National Economic Council. The president has made other moves to patch up relations with the business community.
Obama brings aboard William Daley, a moderate Democrat and fellow Chicagoan, as his new chief of staff. Daley, seen as a tough but fair manager, could help White House ties to the business community.